Abe Lee’s iProperties Hawaii has merged with Japanese retailer Shirokiya Inc. to form Shirokiya Residential Estates LLC, a company that targets Asian buyers looking to purchase high-end residential properties on Oahu, including luxury condominiums in Waikiki and upscale hotel-condominiums at Ko Olina Resort, the two companies said Monday.

A merger agreement between the two companies was signed last week and the new entity will target the Japan, Korea and China markets.

“We are very happy and excited to partner with Abe on this new venture,” Gomyo said in a statement. “With Abe’s many years of experience, stellar reputation, and successful track record, and our strong network in Asia, we feel this will be a very fruitful, long-term relationship.”

Gomyo also said that Shirokiya Residential Estates projects sales of $100 million in its first year of operation and is aiming for $1 billion in sales by its second year. The firm also has plans for a major marketing campaign in Japan through Shirokiya’s sister company, Domus, one of the largest and most prestigious realty and development companies in Japan that specializes in high-end residential developments.

Additionally, Gomyo and Lee will be traveling to Seoul and Shanghai in October to meet with Realtors and potential partners in those markets.

“I am extremely pleased with this partnership with Shirokiya,” Lee said in a statement. “Our areas of expertise complement each other and I look forward to working in collaboration with Taka and his staff for many years to come, and growing Shirokiya Residential Estates to become the premier real estate company for the Asian and local markets.”

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